COMAR 03.04.10.04 — § 4 Maximum Annual Credits.

.04 Maximum Annual Credits.
A.
Except as provided in
§D of this regulation
, the total amount of basic credits approved by the Department under Regulations .02C(1) and .03C(1) of this chapter may not exceed $4,000,000 for any calendar year.
B.
For any calendar year, if the total amount of basic credits applied for by all business entities is less than $4,000,000, the maximum growth credit specified under
§C of this regulation
shall be increased for that calendar year by the amount equal to $4,000,000 minus the total amount of the basic credits applied for by all business entities.
C.
Except as provided in
§B of this regulation
, the total amount of growth credits approved by the Department under Regulations .02C(2) and .03C(2) of this chapter may not exceed $4,000,000 for any calendar year.
D.
For any calendar year, if the total amount of growth credits applied for by all business entities is less than $4,000,000, the maximum basic credit specified under
§A of this regulation
shall be increased for that calendar year by the amount equal to $4,000,000 minus the total amount of the growth credits applied for by all business entities.
Cross References
03.04.10.06B
03.04.10.06B(1)

Cross References
03.04.10.06B

03.04.10.06B(1)

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